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Sensex soars 521 points to pull off biggest gain in five months

— By FPJ Bureau | Oct 19, 2016 06:09 am

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Mumbai : Market went all guns blazing after the benchmark Sensex on Tuesday leaped 521 points — its biggest single-day gain in nearly five months — to 28,051 and the Nifty crossed the 8,600-mark on a flurry of buying amid solid overseas cues.

Investors were markedly optimistic in anticipation of positive announcements on the GST front as the GST Council meeting got under way to decide on rates and slabs of the indirect tax, due to be rolled out from April 1 next year.

The 30-share BSE Sensex resumed higher and quickly crossed the 28,000-mark to hit a high of 28,064.39 before settling at 28,050.88, a significant gain of 520.91, or 1.89 per cent.

This was the biggest single-day gain since May 25 when it had gained 575.70 points. The NSE Nifty retook the 8,600-mark to touch a high of 8,659.80 and finally settled up 157.50 points, or 1.85 per cent, at 8,677.90.